Handelsbanken Fonder AB grew its stake in Globe Life Inc. (NYSE:GL - Free Report) by 93.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,500 shares of the company's stock after purchasing an additional 20,000 shares during the quarter. Handelsbanken Fonder AB's holdings in Globe Life were worth $5,466,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Rakuten Securities Inc. bought a new stake in shares of Globe Life in the 4th quarter valued at about $28,000. Avalon Trust Co bought a new stake in Globe Life in the fourth quarter valued at approximately $41,000. EverSource Wealth Advisors LLC raised its holdings in Globe Life by 32.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after purchasing an additional 90 shares during the period. Platinum Investment Management Ltd. bought a new position in shares of Globe Life during the fourth quarter worth $45,000. Finally, Resona Asset Management Co. Ltd. bought a new position in shares of Globe Life during the fourth quarter worth $68,000. 81.61% of the stock is owned by institutional investors and hedge funds.
Globe Life Stock Down 0.9%
Shares of NYSE:GL traded down $1.07 during trading on Friday, hitting $119.70. 485,391 shares of the company were exchanged, compared to its average volume of 748,254. Globe Life Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $133.76. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of 10.02 and a beta of 0.56. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average price of $120.83 and a two-hundred day moving average price of $119.21.
Globe Life (NYSE:GL - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Globe Life's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.78 earnings per share. As a group, research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.
Globe Life Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a $0.27 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.90%. Globe Life's dividend payout ratio is currently 8.79%.
Insider Activity
In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of the sale, the chief executive officer now directly owns 31,298 shares in the company, valued at $3,834,317.98. This represents a 16.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.51% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Piper Sandler dropped their target price on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Morgan Stanley increased their price objective on shares of Globe Life from $117.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Finally, Wall Street Zen raised shares of Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $137.73.
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Globe Life Profile
(
Free Report)
Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.
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